Integrated Advisors Network LLC Acquires New Holdings in Eastman Chemical (NYSE:EMN)

Integrated Advisors Network LLC bought a new position in shares of Eastman Chemical (NYSE:EMN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 34,587 shares of the basic materials company's stock, valued at approximately $3,107,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new position in Eastman Chemical during the fourth quarter worth $26,000. Sound Income Strategies LLC raised its stake in shares of Eastman Chemical by 213.8% during the 4th quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company's stock worth $37,000 after buying an additional 278 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Eastman Chemical in the 4th quarter worth about $38,000. Orion Capital Management LLC acquired a new stake in Eastman Chemical in the 3rd quarter valued at about $40,000. Finally, Advantage Trust Co acquired a new stake in Eastman Chemical in the 4th quarter valued at about $40,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on EMN shares. Barclays upped their price target on shares of Eastman Chemical from $85.00 to $103.00 and gave the company an "equal weight" rating in a report on Monday, May 6th. Wells Fargo & Company raised their price target on Eastman Chemical from $89.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 11th. UBS Group raised Eastman Chemical from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $106.00 to $128.00 in a report on Thursday, May 23rd. Piper Sandler increased their price objective on Eastman Chemical from $90.00 to $105.00 and gave the company a "neutral" rating in a research note on Tuesday, April 30th. Finally, Mizuho boosted their target price on shares of Eastman Chemical from $91.00 to $102.00 and gave the company a "neutral" rating in a research note on Friday, April 26th. Six investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, Eastman Chemical presently has an average rating of "Moderate Buy" and an average target price of $107.50.

Insider Buying and Selling at Eastman Chemical

In related news, SVP Adrian James Holt sold 1,975 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $99.22, for a total value of $195,959.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Adrian James Holt sold 1,975 shares of the business's stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $99.22, for a total value of $195,959.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark J. Costa sold 102,390 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $100.78, for a total transaction of $10,318,864.20. Following the transaction, the chief executive officer now directly owns 395,699 shares in the company, valued at approximately $39,878,545.22. The disclosure for this sale can be found here. Insiders sold 108,027 shares of company stock valued at $10,885,638 over the last 90 days. 1.93% of the stock is owned by corporate insiders.

Eastman Chemical Trading Down 3.0 %

EMN stock traded down $3.06 during trading on Friday, reaching $99.51. 746,452 shares of the stock traded hands, compared to its average volume of 791,101. The firm has a market capitalization of $11.71 billion, a PE ratio of 12.82, a P/E/G ratio of 1.11 and a beta of 1.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.39 and a quick ratio of 0.71. The business's 50 day moving average price is $99.25 and its 200-day moving average price is $92.28. Eastman Chemical has a 52-week low of $68.89 and a 52-week high of $105.98.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.20. Eastman Chemical had a return on equity of 13.84% and a net margin of 10.16%. The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.29 billion. During the same quarter in the previous year, the business earned $1.63 EPS. The company's revenue for the quarter was down 4.2% on a year-over-year basis. As a group, sell-side analysts forecast that Eastman Chemical will post 7.75 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 17th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Monday, June 17th. Eastman Chemical's dividend payout ratio is presently 41.75%.

About Eastman Chemical

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.